Market Share of Air Conditioning Equipment Industry
The global air conditioning equipment landscape is highly competitive, with several local and international players active in the market. International participants operate in the country through partnerships with local players. With the market expected to broaden and yield more opportunities, more players are expected to enter the market soon. The key players in the market studied include Mitsubishi Electric, and Johnson Controls, among others. These major players have adopted various growth strategies, such as mergers and acquisitions, new product launches, expansions, joint ventures, partnerships, and others, to strengthen their position in this market.
- March 2022 - Azizi Developments, a private developer in the UAE, extended its agreement with Daikin to supply high-end cooling equipment for the third phase of Riviera in MBR City. Daikin will provide HVAC systems comprising air-cooled chillers, fan coil units, and fresh-air handling units.
- May 2021 - Johnson Controls announced they selected R-454B as a future refrigerant for new HVAC equipment. It is a lower global warming potential (GWP) refrigerant to replace R-410A in its ducted residential and commercial unitary products and air-cooled scroll chillers.
Air Conditioning Equipment Market Leaders
Daikin Industries, Ltd.
Hitachi Ltd.
Johnson Controls
Electrolux AB Corporation
Mitsubishi Electric Corporation
*Disclaimer: Major Players sorted in no particular order
